New South Wales Consolidated Regulations

PUBLIC AUTHORITIES SUPERANNUATION (TRANSITIONAL PROVISIONS) REGULATION 1985 - REG 13

13 Allocation of certain employers' contributions under Act No 70, 1972

(1) This clause applies to a transferred contributor referred to in clause 3 of Schedule 7 to the Act in respect of whom one or more secondary employers would have been liable to make a payment under section 32 of the earlier Act to a primary employer if a benefit had become payable to the transferred contributor from the New South Wales Retirement Benefits Fund immediately before 1 July 1985.

(2) If, within the period of 3 months after a benefit becomes payable in respect of a transferred contributor, the primary employer requests the Board to make a determination under this subclause, the Board shall determine in respect of that contributor:

(a) the amount of the employer-financed benefit, calculated in accordance with section 32 (5) (b) of the Act, that would have become payable had the benefit provided by that subsection become payable on 1 July 1985,

(b) the amount (if any) of interest that the Board, in its absolute discretion, thinks appropriate to allow in respect of the amount referred to in paragraph (a), and

(c) the amount, in relation to each secondary employer, that represents the proportion of the sum of the amounts referred to in paragraphs (a) and (b) for which each such employer should be liable, having regard to the length of service of the transferred contributor with that employer.

(3) When a determination has been made under this clause, the amount referred to in subclause (2) (c) in relation to a secondary employer:

(a) shall be debited from the reserve in which contributions of that secondary employer are held, and

(b) shall be credited to the reserve in which contributions of the primary employer are held.

(4) In this clause:
"primary employer" has the same meaning as it has in section 32 of the earlier Act.
"secondary employer" has the same meaning as it has in section 32 of the earlier Act.
"the earlier Act" means the New South Wales Retirement Benefits Act 1972 .